CNPC becomes the gold sponsor of the International Oil and Gas Forum of Turkmenistan

Ashgabat, April 26 - Neftegaz.RU. Turkmen media reported that the Chinese company CNPC will act as a gold sponsor of the International Investment Forum on attracting investments to oil and gas sector of Turkmenistan, which will be held in Ashgabat on May 12-13.

The meeting, timed to coincide with the 30^th anniversary of Turkmenistan's independence, will bring together leading market players, financiers, scientists and experts who will present ideas and analytical conclusions on current trends in the development of the fuel and energy sector and geopolitics.

During the state visit of Turkmen President Gurbanguly Berdimuhamedov to China on July 17, 2007, a PSA for the Bagtyyarlyk contract area and a contract for the purchase and sale of natural gas were signed between the State Concern «Turkmengas» and CNPC.

According to these documents, the CNPC will carry out full-scale work on research, development and production of natural gas in the Bagtyyarlyk contract area for 35 years, as well as supply natural gas to the PRC via the Turkmenistan-China gas pipeline.

The opening ceremony of this transnational pipeline took place on December 14, 2009.
At the moment, there are 3 lines of the Turkmenistan-China pipeline: lines A, B and C; in the future, it is planned to lay line D.

Over the 10 years of operation of the Turkmenistan-China pipeline, the total volume of natural gas exports through it amounted to about 296 billion m3.

In terms of natural gas reserves, Turkmenistan is one of the richest countries in the world, and in China there is a steady trend towards an increase in the demand for «blue fuel».